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Reasons For The Great Depression

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Although there are many reasons for the Great Depression there are three that stick out the most, the Stock Market Crash of 1929, bank failure and the reduced amount of products being purchased/made. In October of 1929 the Stock Market crashed, money that been used to purchase these stocks had been borrowed. Subsequently, the loans could not be paid resulting in banks failing and millions of depositors lost their life savings (Soomo,2016). Another reason for the Depression was the banks failing. Not only had some of these banks used depositor’s money and could not pay them back but banks who had not contributed this sort of activity felt the effects since people were afraid to give their money in fear of those banks failing as well. This resulting

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